Binance has reestablished its Launchpad platform despite the bad ICO market in an effort to provide a high-quality token crowdsale platform.
Initially set up in 2017, Binance Launchpad listed Gifto, an incentive provision application for content creators as its inaugural project. The rise of ICOs has led to a general need to distinguish between outstanding and regular projects creating the need for a platform run by a trusted entity such as Binance.
Binance, the biggest exchange by adjusted trade volume created Binance Launchpad to provide a token sale service platform that combines security, probity, equity, and clarity while presenting projects that solve real-world problems.
The platform has a strict selection and auditing process that takes into consideration organizational structure, business models, application scenarios and team members.
The Launchpad has done very little to deliver on this promise as very few projects utilized it for launching their ICOs. Nevertheless, Binance has relaunched the platform with an announcement of two new projects and the addition of a new project every month.
Binance Launchpad Births 2 New Projects and a New Project Every Month
The rebirth of Binance Launchpad as announced in a blog post came with the addition of two new projects, BitTorrent and Fetch.AI. What’s more, a new project is expected to be added to the platform every month.
BitTorrent (BTT) is TRON’s latest attempt to decentralize the internet by tokenizing the global torrent site with over 100 million users. BTT will be based on the TRC-10 token standard and will enable faster downloads across various torrents.
On the other hand, Fetch.AI, an Outlier Ventures project, is an artificial intelligence and blockchain driven platform that seeks to provide Autonomous Economic Agents (AEAs) that perform economic activity without human intervention and can represent themselves as devices or services.
In order to participate in any token sale on the Binance Launchpad platform users have to verify their Binance account this is to ensure that sale of tokens is done in accordance with all laws in the user’s jurisdiction.